The 10-second takeaway
For the quarter ended March 31 (Q1), National Instruments met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share dropped significantly.
Margins dropped across the board.
National Instruments tallied revenue of $261.1 million. The six analysts polled by S&P Capital IQ expected to see revenue of $261.1 million on the same basis. GAAP reported sales were 9.8% higher than the prior-year quarter's $237.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.16. The four earnings estimates compiled by S&P Capital IQ predicted $0.16 per share. GAAP EPS of $0.15 for Q1 were 40% lower than the prior-year quarter's $0.25 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 76.5%, 140 basis points worse than the prior-year quarter. Operating margin was 9.3%, 610 basis points worse than the prior-year quarter. Net margin was 7.1%, 570 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $277.0 million. On the bottom line, the average EPS estimate is $0.24.
Next year's average estimate for revenue is $1.14 billion. The average EPS estimate is $1.02.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 386 members out of 406 rating the stock outperform, and 20 members rating it underperform. Among 172 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 169 give National Instruments a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on National Instruments is outperform, with an average price target of $31.00.
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